Chubb Ltd ( (CB) ) has released its Q4 earnings. Here is a breakdown of the information Chubb Ltd presented to its investors.
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Chubb Limited is a global insurance company providing a diverse range of insurance products, including commercial and personal property and casualty insurance, life insurance, and reinsurance, operating in 54 countries and territories. Known for its extensive product offerings and strong financial stability, Chubb is a key player in the insurance industry.
In its latest earnings report, Chubb Limited announced strong financial performance for the fourth quarter and full year of 2024, with record net income and core operating income per share. The company achieved significant growth in its property and casualty (P&C) and life insurance segments, showcasing robust premium growth and underwriting results.
Key financial metrics highlighted in the report include a record full-year net income of $9.27 billion, up 2.7% from the previous year, and core operating income of $9.20 billion. The Global P&C net premiums written rose 9.6% for the year, with notable increases in both commercial and consumer insurance. Life insurance premiums saw an impressive 15.7% growth. Additionally, Chubb reported record pre-tax net investment income, up 20.1%, reflecting strong performance across its investment portfolio.
Chubb’s P&C combined ratio improved to 85.7% for the fourth quarter, indicating effective risk management and underwriting discipline. Despite facing catastrophe losses, including impacts from Hurricane Milton, the company’s current accident year underwriting income excluding catastrophe losses rose significantly, demonstrating resilience in its operations.
Looking ahead, Chubb remains optimistic about its growth prospects, supported by favorable market conditions and strong momentum in its global P&C and life insurance businesses. The company is well-positioned to continue its trajectory of growth and profitability, driven by its core sources of income: P&C underwriting, investment income, and life insurance income.
